Marijuana Business Magazine - May-June 2018

Vancouver Hemp Raises $1.2 Million Global Hemp Group of Vancouver has closed a $1.2 million (CA$1.5 million) nonbrokered private placement consist- ing of 12.5 million units at a price of 9 cents per unit. Proceeds will be used to develop the company’s New Brunswick hemp cultivation and extraction project and to fund due diligence on potential acquisitions. British Columbia Grow Gets Boost THC BioMed International , a licensed producer in Kelowna, British Columbia, closed a $774,000 (CA$1 million) private placement under its previously announced investment agree- ment with Alumina Partners, a New York investment firm. Alumina has invested more than $7 million in THC BioMed. Ottawa Drug Discovery Firm Nabs $3.5 Million Ottawa-based Tetra Bio-Pharma, a cannabinoid-based drug development and discovery company, raised $3.5 mil- lion (CA$4.5 million) through a private placement. The money will be used to pay for clinical trials and reduce debt. Beverage Venture WeedMD , an Ontario-based federally licensed producer and distributor of medical cannabis, and Phivida Holdings , a Toronto-based CBD-infused beverage company, signed a letter of intent to form a joint venture, Cannabis Beverages, to develop cannabis-infused beverages at WeedMD’s green- house in Strathroy, Ontario. Investment Firm Completes Research Acquisition Veritas Pharma , a cannabis-focused investment company in Vancouver, has completed a 100% takeover of its research arm, Cannevert Therapeutics . Cannevert will develop can- nabis strains, providing distribution channels for the com- pany’s patent-protected cultivars and strains. ◆ Have a company announcement you want us to consider? Send a news release or general information to OmarS@MJBizDaily.com . (Note: We’re looking for news about expansions, financing, deals, partnerships and similar develop- ments, not product-related announcements.) Charles Larsen, CEO, Global Hemp Group • Purge Oxygen • Extend Shelf Life regardless of your package preference LIQUID NITROGEN DOSING 4 Barten Lane, Woburn, MA 01801, USA T 781-933-3570 | F 781-932-9428 | sales @vacuumbarrier.com | vacuumbarrier.com May-June 2018 • Marijuana Business Magazine • 135